Legal Question in Real Estate Law in Maryland

Re: how can you stop a signed house sttlement contract

You and the buyer can terminate the contract by signing a mutual release. However, if you had a listing agreement with a broker, you may still be liable for a sales commission, depending on the terms of the listing agreement. If you plan to keep the listing agreement in place so your broker can continue to market the property, he/she may not press you for the commission, but if the buyer had his or her own agent, that agent may pursue a commission.

For future reference, you can't just change your mind after you sign a contract and expect to be able to cancel it. Were it not for the fact that the buyer in your case is also having second thoughts, you would be required to go through with the sale. And if they are working with an agent and that agent is able to find them a better loan program that lowers their payments, you may discover that they aren't willing to cancel the contract after all.